Lawmakers Weigh Bad-Bank Plan

Geithner Sees Financial-Stablization Program 'Relatively Soon'

By
Michael R. Crittenden

Updated Jan. 28, 2009 8:03 pm ET

WASHINGTON -- Top U.S. House and Senate Democrats are taking a wait-and-see approach to the Obama administration's potential plan to create a "bad bank" to buy up toxic assets, though there remains a sense of urgency for policy makers to put something in place fast.

"It has to be done quickly," said House Financial Services Chairman Barney Frank (D., Mass.), when asked Wednesday about the concept. "There are a variety of ideas, and this is something they should focus on."